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On 2021/1/1, Organic Meals lent $10,000 cash to Stratford Provisions for one year with 12% annual interest rate. The maturity date for this note is
On 2021/1/1, Organic Meals lent $10,000 cash to Stratford Provisions for one year with 12% annual interest rate. The maturity date for this note is 2021/12/31. Organic Meals receives the interest every 3 months and the fiscal year-end of Organic Meals is July 31st.
Record all the journal entries in 2021 including date information for Organic Meals.
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